BloomBoss Secures $750K in Series A Round, Led by Serial Entrepreneur
NATICK, Mass. (PRWEB) May 25, 2018 -- BloomBoss, a leader in the home cannabis cultivation space, is pleased to announce it has formally raised $750,000 (USD) from a Guelph, Ontario-based serial entrepreneur and private investor Tim Nye of Las Vegas.
BloomBoss designs and manufactures high tech, high-efficiency LED grow lights, personal growing appliances and accessories for indoor cannabis growing. Through a joint-venture partnership with major appliance manufacturer Danby Products, BloomBoss is perfectly positioned to capitalize on the expansion of legal home cannabis cultivation in the US and Canada. Funds will be used for sales and marketing efforts as well as the development of additional cutting-edge cannabis growing appliances.
“We are thrilled to have received this investment from these valued partners,” said Chuck Siegel, President and CEO of BloomBoss. “The funds will be used for further development of the company’s soon-to-be-released personal growing appliance named ‘GYO’” said Siegel.
BloomBoss’s flagship growing appliance, GYO (pronounced “jee-yo”), is designed to make home cultivation simple and accessible to growers of any experience level. BloomBoss officially launched a Kickstarter campaign on May 15th to take preorders for GYO and validate the personal growing appliance market, and they have already secured close to $16,000 of their $25,000 goal.
“I am really excited about the GYO personal growing appliance, and BloomBoss’ s ability to leverage Danby’s resources,” said Siegel. “By leveraging Danby’s massive buying power and manufacturing capabilities, GYO will possess true competitive advantage in the marketplace and we expect it will become the gold standard of home grow boxes” Siegel went on to say.
Once this initial round is complete, BloomBoss will seek an additional $3.5MM to bring GYO Pro, a larger cannabis growing appliance with more sophisticated automation capabilities, to market.
About BloomBoss
BloomBoss® offers high-efficiency, high-performance LED grow lighting and related equipment and is developing a line of groundbreaking cannabis growing appliances. Our mission is to revolutionize home cannabis cultivation with modernized, energy-efficient products and provide growers of all experience levels with the tools to be successful. To learn more about BloomBoss or make a purchase, please visit http://www.BloomBoss.com
About Danby Appliances
Founded in 1947, Danby is one of North America's leading manufacturer/distributors of compact appliances such as microwaves, dehumidifiers, refrigerators, freezers and air conditioners. The company operates three distinct business units – Danby, MicroFridge, and Silhouette – with four North American offices, including three in the U.S. and one in Canada. For more information on Danby and its products, please visit http://www.Danby.com
Chuck Siegel, BloomBoss, http://www.BloomBoss.com, +1 7747775208, [email protected]
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